TSX Fails To Hold Early Gains, Ends On Weak Note

(RTTNews) - Despite opening on a firm note and holding in positive territory till a little before noon, the Canadian market slipped into the red and ended on a weak note on Tuesday.

Technology, consumer staples, consumer discretionary, healthcare, materials and industrials shares drifted lower, while energy stocks turned in a fine performance as crude oil prices rose sharply.

The benchmark S&P/TSX Composite Index, which climbed to 19,500.89 earlier in the session, ended the day at 19,222.74, down 35.58 points or 0.18% from the previous close.

Lightspeed Commerce (LSPD.TO) amd Shopify Inc (SHOP.TO) ended lower by about 7% and 6.1%, respectively. Cargojet (CJT.TO), Agnico Eagle Mines (AEM.TO), Thomson Reuters (TRI.TO), Alimentation Couche-Tard Inc (ATD.B.TO), Premium Brands International (PBH.TO), West Fraser Timber (WFG.TO) and Canadian National Railway (CNR.TO) shed 2 to 4%.

ARC Resources (ARX.TO) rallied nearly 9%. Paramount Resources (POU.TO) climbed 6.5%. Tourmaline Oil Corp (TOU.TO), Fairfax Financial Holdings (FFH.TO), Canadian Natural Resources (CNQ.TO), Vermilion Energy (VET.TO) and Precision Drilling Corporation (PD.TO) gained 2 to 5.3%.

Imperial Oil (IMO.TO), Kinaxis Inc (KXS.TO) and Nutrien (NTR.TO) were among the other notable gainers.